Reuters reported that rates for mid sized dry bulk carriers on key Asian freight routes are expected to rise next week with tight supplies in the Supramax market due to strong intra Asia demand.

Shipbrokers said that for the capsize market, freight rates were seen remaining under pressure on ample tonnage and fears of further bad weather in Australia.

Rates for Supramax shipments from Australia to Japan and South Korea, two major coal importers, rose to a two month high of USD 12,518 a day from USD 9,468 last week. The market has steadily rebounded from a 23 month low of USD 7,273 earlier this month.

Broker firm ICAP said that "The Pacific market remains tight on tonnage and although certainly quieter, rates continued to firm. The market here for the remainder of the week looks set to remain firm."

Rates for Supramax shipments from the east coast of India to China rose to a five month high of USD 17,850 from USD 14,908 last week. In the Panamax market, rates came under pressure on fewer fixtures for US and South American grain cargo to Asia compared to last week.

The Baltic Exchange's rate for vessels traveling via the transpacific eased to USD 13,438 a day from a two month high of USD 15,398 last week.

Broker firm Fearnleys said that "The positive trend from last week gradually faded out, led by lack of fresh US Gulf and East Coast South American grain requirements in the Atlantic."

Benchmark capsize fixture rates from Australia to China eased to USD 6.542 a tonne from USD 6.800 last week, pressured by trade disruptions caused by bad weather in Australia.

Port Hedland, one of the world's largest export terminals for iron ore, reopened on Wednesday following a two day suspension as a cyclone passed down Australia's western coast.

(Sourced from www.reuters.com)